Begbies Traynor Group performing 'beyond market expectations'

By Stephen Emerson

23 September 2022

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Begbies Traynor Group has reported strong growth at its annual AGM.

Executive Chairman of the group, which has offices across the South East, Ric Traynor told AGM delegates that the firm more than doubled revenue streams in five years, with pre-tax profits increasing from £5.6m to £17.8million.

Mr. Traynor said: "Since 2018 we have increased revenue from £52m to £110m, operating margins from 11.6% to 16.9%, adjusted profit before tax from £5.6m to £17.8m and adjusted earnings per share from 4.0p to 9.1p, respectively.

"Last year was no exception, as all areas of the group delivered strong growth. Over the same period, we have also increased dividends by 10% CAGR and moved from net debt to net cash."

The group's predicted pre tax profit is in the £19.7m-£20.6million range. Mr. Traynor attributed this to the: "continuation of our strong financial track record, resulting from our organic and acquisitive growth strategy."

"We have completed two acquisitions in the new financial year: Mantra Capital, the London-based property finance brokerage, in July 2022; and the chartered surveyors' practice, Budworth Hardcastle, in June 2022."

In a statement to the LSE Begbies stated the integration of both businesses was "progressing in line with expectations."

By Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.